Changes in the organization’s management, marketing, finance/accounting,
production/operations, R&D, and MIS strengths and weaknesses should all be the focus
of a revised EFE matrix in strategy evaluation.
Successful strategists minimize their own political exposure on issues that are highly
controversial and in circumstances where opposition from major power centers is likely.
A firm’s philosophy in a mission statement addresses the question, “What is the firm’s
distinctive competence?”
Although it is important for companies to have a clearly defined mission statement,
research has shown that less than 50% of all companies have used a mission statement
in the previous five years.
A mission statement is a declaration of an organization’s financial status.
According to author Alvin Toffler, what occurs when the nature, types, and speed of
changes overpower an individual’s or organization’s ability and capacity to adapt?
A) Corporate insecurity
B) Corrective actions
C) Future shock
D) Corporate agility
E) Projected performance
Military strategy is based on an assumption of ________, whereas business strategy is
based on an assumption of ________.
A) conflict; cooperation
B) conflict; competition
C) cooperation; conflict
D) competition; conflict
E) cooperation; competition